Final answer:
Forests, water, oil, gas, and other such items found in nature are known as natural resources.
Step-by-step explanation:
Forests, water, oil, gas, and other items that occur in or on the ground are referred to as natural resources. These resources are characterized by their natural occurrence; they are not created by human effort but rather found in nature and can be utilized for the production of goods and services. There are two types of natural resources: renewable ones like forests and water, and nonrenewable ones such as oil and gas, which are finite and require processes like exploration and development before they can be utilized.
Natural resources are fundamentally parts of our environment that are necessary in the production of goods and services. The term 'land' in the economic sense encompasses all these natural resources. It's essential to use these resources sustainably because they are often finite and can lead to environmental degradation if exploited irresponsibly, causing problems like pollution, deforestation, and loss of biodiversity.
Fossil fuels such as oil and gas are nonrenewable resources that were once not even considered as resources until methods for their extraction and use were discovered. Similarly, forests provide renewable resources like timber and firewood, but can lead to deforestation if not managed sustainably. Water resources include both surface water, like runoff, and groundwater, which can supply wells and springs, but must be managed to ensure long-term availability for various human and ecological needs.